Additional Job Cuts in Store at HP Inc.
Bloomberg reports that HP Inc. has increased its planned job cuts to 4,500 to 5,000 employees by the end of 2019. This is about 1,000 more than the company had estimated as part of a reorganization it announced almost two years ago.
HP Inc. will incur pretax restructuring charges of about $700 million for the job cuts, an increase from the original estimate of $500 million, HP Inc. stated yesterday in a regulatory filing. During a conference last week, HP Inc. executives had said they were expanding the job cuts that began in fiscal 2017. As of October 31, 2017, HP Inc. had 49,000 employees.
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